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JOURNAL OF APPLIED BUSINESS AND ECONOMICS
Risk Behavior and Performance in Chinese Private Firms:
From Regulatory Impact to Owner-Managers
Author(s): Chuanyin Xie
Citation: Chuanyin Xie, (2012) "Risk Behavior and Performance in Chinese Private Firms: From Regulatory Impact to Owner-Managers," Vol. 13, Iss. 2, pp. 133 - 145
Article Type: Research paper
Publisher: North American Business Press
Abstract:
Given the background that private firms in China were risk taking in once an unfavorable regulatory environment, this study examines their risk behavior and performance implications in a new era when the “invisible hand” begins to exert its influence. In the new era, private firms have choices as to whether or not to take risk, so risk behavior needs to be examined beyond the regulatory impact. I shift the research attention to owner-managers who make risk decisions. I argue that owner-managers’ characteristics, including who they are, why they run their own business, and to what degree they control their business, have direct implications for firm risk behavior. These characteristics can also affect the relationship between risk behavior and performance.
